Cathie Wood Doubles Down on GitLab (GTLB) While Dumping Palantir & CoreWeave – A Bold Tech Bet

Cathie Wood''s ARK Invest makes a high-conviction move—loading up on GitLab shares after its recent dip while cutting ties with Palantir and CoreWeave. The tech-focused fund manager continues her pattern of contrarian plays, betting big on DevOps while stepping back from data analytics and cloud infrastructure.

Market watchers see this as classic Wood: zigging when others zag. GitLab''s 30% pullback from ATH appears to be her buying trigger, while Palantir''s 150% YTD rally likely prompted profit-taking. The CoreWeave exit raises eyebrows given the AI infrastructure gold rush—unless she knows something about GPU oversupply the market doesn''t.

One thing''s certain: when the ''Money Printer'' speaks, crypto and tech traders listen. Though after her Bitcoin $1M price prediction, some Wall Street veterans are keeping score with eye-rolls and margin calculators handy.

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Cathie Wood Bets on GitLab Stock

On Wednesday, ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW) purchased 227,698 GitLab shares for a consideration of about $11.05 million. The purchase of GTLB came in as the stock sank over 10% on Wednesday, despite the developer tools company delivering stronger-than-expected Q1 FY26 resultsThe company posted earnings of $0.17 per share, beating the consensus estimate of $0.15. Similarly, revenue ROSE 26.8% year-over-year to $214.51 million, also topping analysts’ forecast of $213 million.

Turning to Wall Street, analysts have a Strong Buy consensus rating on GTLB stock based on 19 Buys, three Holds, and zero Sells assigned in the past three months. Furthermore, the average GTLB price target of $62.81 per share implies 44.82% upside potential.

Aside from GitLab, the ARKW ETF also bought 349,000 shares of BEAM Therapeutics Inc. (BEAM), increasing its exposure in the biotechnology firm.

ARK ETFs Sell RBLX, PLTR, and CRWV Stocks

On Wednesday, the ARKK ETF offloaded 98,362 shares of Roblox, having a value of over $9 million. Another notable sale was that of 55,829 shares of Palantir Technologies through the ARKK, ARKQ, and ARKX (ARKX) ETFs, valued at roughly $7.4 million. Additionally, ARK offloaded 12,728 shares of CoreWeave for approximately $2 million.

Wall Street maintains a Moderate Buy consensus on Roblox and CoreWeave, though analyst sentiment remains mixed. Roblox continues to enjoy a strong following among younger users, but slowing bookings growth and ongoing losses have raised concerns. Meanwhile, CoreWeave has attracted bullish attention thanks to its AI exposure, yet some analysts remain wary of its elevated valuation and profitability challenges. At the same time, Palantir Technologies earns a Hold rating overall, as valuation concerns overshadow its solid growth trajectory.

The average price targets for RBLX, PLTR, and CRWV stocks indicate a downside risk of about 18%, 25%, and 68%, respectively, from current levels.